For each of the following situations, indicate whether FIFO, LIFO, or weight average applies. - 88109

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For each of the following situations, indicate whether FIFO, LIFO, or weight average applies. a. In a period of rising prices, net income would be highest. b. In a period of rising prices, cost of goods sold would be highest. c. In a period or rising prices, ending inventory would be highest. d. Ina period of falling prices, net income would be highest. e. In a period of falling prices, the unit cost of goods would be the same for ending inventory and cost of goods sold.
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